Chocolate Finance takes S$500 million hit from 2 weeks’ run of redemptions; looking to return to business as usual
CEO sees the orderly manner in which platform handled the deluge of withdrawals as a success
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[SINGAPORE] Around S$500 million in net withdrawals were made by Chocolate Finance’s customers – slashing the firm’s assets under management (AUM) by some 40 per cent – amid a run over the past two weeks.
But founder and chief executive Walter de Oude is adamant that it was in no way a “meltdown”.
In fact, he sees it as a success that the asset manager’s platform was able to handle the deluge of withdrawals in an automated and orderly manner.
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